Covid Impact.pptx

Impact of covid-19 on Global indian business and society

1. Impact of COVID-19 on Global, Indian Business and Society

2. INTRODUCTION Coronavirus disease(COVID-19) is an infectious disease caused by the SARS-COV-VIRUS. It has caused millions of deaths around the world as well as lasting health problems in some who have survived the illness. The first case of COVID-19 was reported on Dec.1,2019 in Wuhan, China. Symptoms such as cough, fever, difficulty breathing, runny nose etc. show up in people within 2-14 days of exposure to the virus.

3. The current total cases in the world are 31.1 crore and the current total deaths are 55 lacs. In India the total cases are 3.5 9 crore and total deaths are 4.84 lacs. The Covid-19 pandemic is a social and an economic crisis just as much as it is a health one. From school closures to devastated industries and millions of jobs lost,Covid-19 has widen inequalities everywhere .

4. Impact on Indian Economy On January 30, 2020, the first case of COVID-19 in India was recorded in Trissur, Kerala. Initially, the country implemented a virus-containment policy, which included steps such as quarantining people travelling from high-transmission areas, isolating affected people, restricting people's travel from areas with high numbers of cases. India imposed limitations on public meetings, domestic and international air travel, and the closing of public spaces.

5. These restrictions put a strain on the economy, and the agricultural, manufacturing, and service sectors all suffered severe impacts. Business face an uncertain future: Pandemic affected Non-essential and Small businesses the most, which led to cash crunch within their businesses. It impacted the agriculture sector, as farmers were unable to get proper logistics in place. GDP growth is expected to decrease : Major Companies had to shut down their plants which resulted in direct output loss. Investor confidence has taken a hit and market investments are declining: Investors became panicked and began withdrawing their funds from the market. As a result, stock values have dropped across the sectors. Gap between Demand & Supply: Disrupted Supply chains caused scarcity of resources. However, the demand for the good was going to be same, might even rise. This resulted in gap between Demand & Supply.

6. Impact on Global Economy The coronavirus epidemic has come to nearly every countries in the world. It's spread has left the national economy and businesses accounting the prices , as the governments struggle with new lockdown measures to stop the spreading of the coronavirus Despite the event of recent vaccines, many are still wondering what recovery could seem like. Here could be a selection of charts and maps to assist you understand the economic impact of the virus up to now Global shares in flux. T here are big shifts accessible markets, where shares in companies are bought and to be sold, can affect the price of pensioners or individual savings accounts.

7. COVID-19 has a great impact on the socio-economic status and this include Loss of skilled and experienced workers Reduced supply of labour Loss of key staff and activist which may lead to poor organizing and defect in support of community It causes poverty through the loss of life of wage earner It reduced productivity and negative impact on economic growth Every component of aggregate demand – consumption, capital spending, exports – is in unprecedented freefall

8. Impact of COVID-19 on BUSINESS SECTORS

9. AUTOMOBILE SECTOR The pandemic-induced lockdown resulted in the shutting down of production at original equipment manufacturers (OEM) globally.  It also led to disruption of the entire value chain of major industries in India, and therefore negatively affected production of auto spare parts in micro, small and medium-sized industries. T he reduction in consumer demand for passenger vehicles contributed to a loss in revenue and a severe liquidity crisis in the sector.

10. According to the Society of Indian Automobile Manufacturers, the sector registered negative growth in sales of all vehicle categories in FY21 (2.24% decline in sales of passenger vehicles, 13.19% fall in sales of two-wheelers, 20.77% fall in sales of commercial vehicles, and 66.06% fall in sales of three-wheelers). According to the Parliamentary Panel report, the estimated job loss in the Indian automobile sector stood at 3.45 lakh.The largest carmaker Maruti Suzuki cut temporary workforce by 6%, following the drop in car sales.

11. REAL ESTATE SECTOR The COVID-19 pandemic has curbed the growth of multiple business sectors,the real estate sector is one of the worst affected by the coronavirus. Visits to the sites continue to fall as sales numbers dwindle and project deadlines are pushed back.Moreover, with increasing supply constraints, the migrant crisis, and liquidity concerns because of COVID-19, India is facing a severe slump in realty demand and supply.

12. The lock-down impacted both residential and commercial sectors – while 73% of the residential developers witnessed a complete standstill in sales, more than 90% of the commercial developers witnessed delay in (either whole or part of) their rental receipts, reduced footfalls in retail malls and less than 5% occupancy in hotel properties. To ensure profitability, most developers are focusing on reducing fixed costs (36%) and pay cuts (41%). Close to 20% of them are also considering workforce reduction. While pay cuts may be in the range of 10%-25%, workforce reduction may be in the range of 10%-30%.

13. The impact of COVID-19 was felt globally as well. Real estate sales drop by 90% in china,European countries such as great britain and italy fell by 70%. The same situation was shown on the real estate market in Republic of serbia.The U.S real estate market also experienced drop in sa les.

14. Healthcare Sector Introduction: As a result of the COVID-19 pandemic, many hospitals and healthcare facilities are experiencing severe financial difficulties. This load has impacted patient care, operations, and surgical results. On the whole, a lack of readiness played a significant role in the difficulties that healthcare facilities around the world have faced. PPE for healthcare professionals, medical equipment, sanitising supplies, toilet paper, and water were all in low supply. COVID-19 exposed these flaws, prompting healthcare institutions all across the world to devise new pandemic preparedness plans.

15. Impacts of COVID-19 on Healthcare Sector Disruption in the Supply Chain: Healthcare facilities were forced to reserve available products due to the supply chain disruption. To keep up with the expanding number of patients, a large sum of money was required. As a result, the healthcare industry was put under a lot of financial burdens. There have also been instances of unauthorised products being used in healthcare settings. Shortage of Healthcare staff and Rise in patient care: The Centers for Disease Control and Prevention (CDC) underlined the importance of social isolation. People with large families and small homes didn't have the luxury of maintaining their distance. As a result, the number of patients visiting hospitals increased. Due to this,, hospitals had to devote their whole focus to them and enlarge their healthcare workforce.

16. Disposal of Waste: To be thrown out, all vials of blood and body fluids from covid patients, as well as equipment such as PPEs, were to be placed in special garbage bags. The problem was that these bags were made of plastic and were difficult to burn. This resulted in increased pollution in dumping sites due to garbage collection, which led to a new wave of disease outbreaks that harmed the population. Overwhelmed Morgues: Several people died due to the pandemic. Patients are temporarily held in morgues until they are picked up and buried by family members. Lockdowns are in force, and hospitals are not allowing visitors. As a result, the healthcare sector was impacted because even morgues were at limit and there was nowhere to place bodies.

17. Impact of COVID 19 on Education Sector COVID-19 has wreaked havoc across the world and especially education sector has been hit hard. According to UNESCO over 800 million learners from around the world have been affected. Online teaching and learning. Students who struggle getting resources. Teachers now getting habitual to online teaching. Helpless illiterate parents struggle to help their children in their education. Lack of personal interaction between teachers and students. Public financing education in OECD countries. International students mobility.

18. Impact of COVID-19 on Education Sector While the Global Campaign for Education (GCE) acknowledges the public health decision to close schools, and believes that contingency plans should be in place to ensure the right to education even in times of crisis. Education is an essential right for children, young and adults in emergencies and must be a priority from the very beginning of any and all emergency responses. GCE calls on the national governments, and donors: 1) To prioritise education in the first phase of all emergency responses with immediate effect, and to include education in their COVID-19 response policies. . 2) To dedicate appropriate resources, financial and technical, to ensure the right to free, quality public education for all is maintained during the COVID-19 crisis. 3) To increase funding and support to education in crises to a minimum of 4.2% of emergency assistance in line with its needs. 4) To minimise the pressure on teachers, schools and school systems that remain open or volunteer to offer extra support.

19. Impact of Covid-19 on Service Sector The service sector can be explained as an intangible economic activity that can neither be stored nor result in any ownerships, but plays as a very crucial role in the countries economy. The service sector has a very significant basis and there are many more people who are employed in Indian Service sector. It contributes 55 percent of the total Indian Economy. The COVID-19 has worst impacted each and every sector of the market so as the service sector. Every pandemic brings change in the consumers choices and preferences which could highly impact the markets. To understand this better Hotel/ Restaurant Sector - Approximately 1.42 crores of people are employed in the restaurant business on permanent basis and there are many more employed in daily basis. After COVID almost 72% of people don’t want to continue having food in restaurants as precaution this is a very declining sign for the restaurant industry and also the country’s economy since if people don’t prefer to have food in the restaurants the government will be losing the income from this sector in terms of tax.

20. Transport Service - Transport services Contribute to a greatest extent to the country’s economy, the rail, road, air and water ways are busy round the clock, the Indian roadways are the 2nd top busiest roadways in the world . Due to COVID-19 a global pandemic all transport activities except those are essential as per requirement of circumstances, were stopped for few months, and the unlock brought relaxations and given freedom for travelling anywhere within the county. The public transport like rails , metros , buses and flights have not seen a recovery even after the lockdown has ended Social and Personal Services includes the parlors, salons, carpenters, plumbers, electricians.,lawyers , medical care etc .in this category only the health care is at its break-even point neither profit nor loss. Remaining services are facing a decline and a very huge impact because all these services need the intervention of human capital . the customers have a fear of spreading of the virus through these service providers . Social and Personal Services includes the parlors,salons ,carpenters, plumbers, electricians.,lawyers , medical care etc.in this category only the health care is at its break-even point neither profit nor loss. Remaining services are facing a decline and ad a very huge impact . because all these services need the intervention of human capital . the customers have a fear of spreading of the virus through these service providers .

21. There are a some of the business sectors which have not only got negatively impact on this global pandemic, but there is also a silver lining for them in this covid pandemic situation – and here we are talking one of such prominent sectors which is Information Technology (IT). The IT industry didn't only manage the current situations competently and appropriately to keep their workflow and IT sector continue, but it has been the savior of various other business sector as well. COVID-19 pandemic has caused so many unwanted and unprecedented changes in every industry sectors whether it is Automobile, Hospitality, Aviation, Retail,education and others. Impacts of COVID-19 on the Information Technology (IT) Industry

22. The majority of these sectors have experienced the negative impacts in this pandemic or lockdown circumstances on their respective business sector and organization regardless of this global crisis, the revenue of the IT Industry was calculated at around USD 190 Billion for 2020-21, and it is expected to reach around USD 300-350 Billion by the year-end 2025. • Around 35-38% of tech-giant organizations are likely to improve or build up their IT operations and infrastructure due to the COVID-19 outbreak. • Major companies of different sectors have give an account of an average of 5-10% growth in IT expenditures due to the COVID-19 pandemic. • The Cloud Software and automated Platforms have comparatively observed the fastest business expansion in 2020 when everyone was working from home as an opportunity

23. BOOST OF IT SECTOR Zoom alone experienced year-on-year growth of around 340-345% within the year 2020. Similarly, thanks to the COVID-19 crisis, there has been a big shift in technology adoption and digitization worldwide – the digital adoption has fast-forwarded by around 3 years. Facebook ,Twitter and other IT companies have already made a public announcement about its permanent work from home plans. Similarly, Facebook has also officially hinted that around 50% of the company’s workforce could be working remotely within the next 5-10 years. The recent involvement of the IT Industry within the healthcare domain to affect the coronavirus crisis is additionally one amongst the most important reasons behind the upward trend of this particular sector in terms of growth and demand.

24. Impact of COVID-19 on SOCIETY

25. Lockdown has proved that “man is a social being” because continuous lockdown for about four months have impacted people psychologically and the burden has been faced by women and children in the form of domestic violence. In the lockdown period, multiple calls have been received on the helpline number made for the people going through domestic violence. Social- Distancing The act of “social-distancing” sociologically, is a new form of untouchability . A s earlier in the Indian society after the Vedic period, people of the upper caste used to maintain social-distancing with untouchables so that they don’t impure the people of the upper caste. On the same pattern, in the contemporary society due to COVID-19 all the constitutional norms eliminating untouchability and promoting integration , seems to be failed as people are being asked to maintain social-distancing. Of course, it (social-distancing) is the only measure to control the influence of COVID-19 and it should be promoted but we need to see the impact of this pandemic on the society how it has revived the social discriminatory practices. Mental Health

26. The migrant workers depend on daily earnings, they barely have savings which they could spend during any emergency. Many of them have already abandoned this world,. Those who didn’t have many resources left with them started to move to their villages because of the unavailability of jobs and money in the cities. Walking thousands of miles barefoot with their child, pregnant wife, we can’t feel the pain because only those can feel it who bear it. Apart from migrant workers, gig workers have gone through a similar issue though it has not got much attention in the news. For these workers like delivery boys, cab driver etc. COVID has brought the world to a stagnant position. Migrant Worker Standard of Living With the effects of COVID -19 society at large has faced obvious financial crisis, due to which people generally compromised with their standard of living. A moment of necessity arrived and people purchased what was necessary for them. The C OVID -19 pandemic has resulted in high unemployment rates and bankruptcies, while threatening to have a lasting e ffect on living standards. While people and economies shift to new sectors, the adjustment is expected to be long and painful.

27. Remember, we are in this together Stay Safe Thank You.